Bring chicken broth to a gentle simmer in a heavy-bottomed saucepan over medium heat. Slowly whisk in the stone-ground grits, stirring constantly to prevent lumps.
Reduce heat to low, cover, and cook the grits, stirring every 5 minutes, until they are creamy and slightly chewy, about 20-25 minutes. Stir in a tablespoon of butter and season with salt and pepper to taste.
While the grits cook, peel and devein the shrimp if not already done. Toss them with smoked paprika, a pinch of salt, and a drizzle of olive oil.
Heat a large skillet over medium-high heat and add a tablespoon of olive oil. When shimmering, add the diced bacon or sausage and cook until crispy and browned, about 3-4 minutes.
Add the minced garlic to the skillet and cook until fragrant, about 30 seconds, stirring constantly to prevent burning.
Place the seasoned shrimp in the skillet in a single layer. Cook until pink and just opaque, about 2 minutes per side, until they develop a slight char and release a fragrant, sweet aroma.
Stir in hot sauce and a squeeze of lemon juice into the skillet with the shrimp. Cook for another 30 seconds, then remove from heat.
Stir the remaining butter and lemon juice into the cooked grits, adjusting seasoning with salt and pepper as needed. Keep warm over low heat, stirring occasionally.
To serve, spoon the hot, creamy grits into bowls. Top with the smoky, charred shrimp and crispy bacon or sausage pieces. Garnish with sliced green onions and additional hot sauce if desired.
Enjoy immediately while the dish is warm, fragrant, and packed with smoky, spicy flavors.
